The Daily Beast

The Daily Beast, founded in 2008 by Tina Brown, former editor of Vanity Fair and The New Yorker magazines, is a news website now owned by IAC Inc. It is based in New York City. The website's name came from a fictional newspaper in Evelyn Waugh’s novel, Scoop. Newsweek Magazine merged with the Daily Beast in 2010, but by 2013, IAC divested itself of Newsweek.

Sometimes referred to as a digital tabloid, the Daily Beast is known for its irreverent political and cultural reporting.

In April 2024 IAC hired Ben Sherwood, former president of ABC Television Group, and Joanna Coles, former Hearst Magazines content chief, to make changes. Both have been given an equity stake in the Daily Beast.

They will conduct a round of voluntary buyouts to cut costs by $1.5 million. “Everyone in digital media is facing tough choices,” a spokeswoman told The New York Times. “These buyouts are especially hard because we know some talented and valued colleagues will decide to leave next month.”

The publication has lost millions of dollars annually and it hopes to reach a break-even point soon.